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Reuters: T-Mobile looking to buy spectrum from Verizon

  • A source tells Reuters T-Mobile USA (TMUS) has approached Verizon (VZ -0.1%) about acquiring spectrum, albeit while cautioning the sales process is in the early stages. An analyst estimates the price tag for the spectrum, which isn't being used by Verizon, could total $3B.
  • T-Mobile is in the midst of raising $3.65B via stock and debt offerings, and has been expected to use much of the proceeds to go spectrum-shopping. The carrier priced its debt offering last night: It's selling $1B worth of 6.125% 2022 senior notes, and $1B worth of 6.5% 2024 senior notes.
  • Verizon, meanwhile, may be looking to raise cash via asset sales after taking on $61B in debt ($49B through a massive bond sale) to help pay for the Vodafone deal.
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